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Is it still faster to download the blockchain via Torrent than via the Bitcoin-qt client ?

submitted by Wats0ns to Bitcoin [link] [comments]

We made a parallel agreement on the Bitcoin blockchain yesterday, download the Torrent now!

We made a parallel agreement on the Bitcoin blockchain yesterday, download the Torrent now! submitted by MrChrisJ to worldcryptonetwork [link] [comments]

Downloading Blockchain via Torrent /r/Bitcoin

Downloading Blockchain via Torrent /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[Idea Proposal] Maybe the Bitcoin Foundation could upload an official torrent of the blockchain monthly to increase download speeds.

Maybe this could cut the initial download time. There are currently torrents available elsewhere, but they aren't "official".
submitted by Sou_lay to Bitcoin [link] [comments]

For new full nodes to speed up initialization, would a weekly blockchain torrent be helpful?

I've been considering zipping up the blockchain data every week and creating torrents to speed up initialization for new full nodes.
Would such a service be helpful and/or used?
submitted by HappyDadOfFourJesus to Bitcoin [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Is there any way to help the Bitcoin network as a whole, via a shared seedbox?

I've got a shared seedbox and I consistently do not use the full bandwidth. Is there anything simple I can do to help Bitcoin using my seedbox?
submitted by torontokid25 to Bitcoin [link] [comments]

The Incentivization Mechanics

[This text constitues an update to the Whitepaper. For more, including infographics, check out https://gridnet.org/whitepape]
Now, let us give here a short-overview of the incentivization mechanics in regard to the Torrent-storage sub-system. The mechanics employ State-Less Blockchain channels, with a modified version of Token Pools. We have codenamed the modified data-structures ‘Multi-Dimensional Token Pools’.That is to support multiple concurrent peers during downloads (even hundreds of simultaneous peers being rewarded at a time, with millions of simultaneous transmissions worldwide). All of the mechanics described herein will be hidden and transparent to the user.
As far as user-involvement goes, each and every user will be able to create/deploy a Token-Pool by sacrificing a certain amount of cryptocurrency. This will be possible through the Decentralized Command-Line (takes a single command) but through the fancy-looking UI as well (a couple of clicks).
Let us say you sacrifice 1 GRIDNET Coin (1000000 GBUs) to create a single Multi-Dimensional Token-Pool. Recall that the Token-Pool represents an off-the-chain value store. When you do so, you specify the number of Dimensions (or ‘Banks’) to be available from within that Token-Pool and the value of a single Token/hash from within the Pool (values will be proposed automatically). Still, for the purposes of sound explanation let us deeper. If you specify 100 dimensions and the value of a single Token as 1 GBU, then the amount of tokens available within a single Bank will be equal to 1000000/100, thus with each Token worth precisely 1 GBU. Yes, each dimension is finite, with boundaries constantly verified. During data download the software which runs within the web-browser will be delivering small portions of the accumulated value to the ones who deliver file/video fragments (possible once it is being played).
As far as the user is concerned, if he is a client, he will need to register a Token-Pool and be automatically informed once it gets depleted. In case of a data-delivery node he/she will be constantly informed of the amounts of just received rewards/cryptocurrency. Once a threshold of received rewards is reached, the software will automatically cash-out received tokens for the on-the-chain Live currency. In case of invalid tokens/ malicious peers etc. these will be cut-off automatically.
During data-transmission/reception, the Token-Pool’s dimensions/banks will be chosen and switched between autonomously by the software (the GRIDNET-OS JavaScript context). During data-transmission, the data-delivery node, with each data-bundle (ex. 100KB) receives a Token (hash), dispatched by client, one generated from within a certain Token-Pool’s dimension/bank. Here, each hash represents part of the total value accumulated within the particular Token-Pool. Do note that rewarding data-delivery does happen off-the-chain during the entire data-transmission between points A and B. It is in awardee’s best intention to postpone cashing out of the accumulated rewards (which this time does involve the decentralized state-machine), the later the better, since doing so involves a fee.
📷
Figure 10: A Multi-Dimensional Token-Pool
Notice how efficient the mechanics are. Formulation of a Transit Pool (the data-structure which is to end-up within the VM at the end of data-transmission, which can actually cover for multiple data-transmission / files between A and B) involves mostly just a single hash, one revealed from the chosen Token Pool’s dimension/bank. Here, it is important to note that only a single awardee can be rewarded from a single Bank/Dimension at a time, before he/she decides to cash-out his/her accumulated reward. The most recent hash suffices to validate the entire sub-chain of a bigger hash-chain, represented by a Token Pool’s dimension. Moreover, storage of the Multi-Dimensional-Token Pool on-the-chain is even more efficient. The secret MasterSeedHash is all it takes to recover information in regards to every Dimension/Bank with its value known only to the owner (stored off-the-chain). In that respect (storage and information recovery) the data-structure is similar to HD-Wallet keys, known from the Bitcoin-realm.
During data-transmission, after receiving a Transmission Token it is possible , at any moment , for the rewardee to verify the current state of the on-the-chain-preserved Token-Pool and thus to check against a possible double-spend attempt by querying full-node for the Token-Pool to which the given Transmission Token corresponds to. If, the hash-value revealed turns out to overlap part of the hash-chain which is already known, that indicates a double-spend attempt and the data-delivery node can refuse further data-transmission.
Figure 11: Overview of the incentivized data-transmission mechanics.📷
Once the Provider’s software decides to cash-out tokens (as per user’s preferences) for live on-the-chain currency, it will autonomously formulate a #GridScript transaction with the embedded Transit Pool (encapsulating the most recently revealed hash from a particular dimension, from a particular token-pool).
Now, the full-node which receives such a transaction would extract and verify the Transit Pool against the current state of the Token Pool (which should by now be available at the chain at all times). If validated, the Provider is rewarded with the amount of Live-cryptocurrency which corresponds to the total value represented by the received Transmission-Tokens (after processing fees have been deducted).
Kindly do note that here, everything is presented as a high-level overview and additional case-specific technicalities are involved. For instance, we employ additional variations of the Transmission-Tokens, including their Authenticated-subtype, one which renders the mechanics resilient against a malicious full-node. For instance, one might observe that under the so-far described assumptions - of each hash uncovering a certain amount of value -then, without additional authentication this would render the mechanics susceptible to a malicious full-node which could claim the Token/hash as his, instead of node’s that performed data-deliveries. Things get even more complicated when we employ additional mechanics to cope with Sybil-nodes in case of routed data-transmission (Tunneling / IoT) . That very subject alone is described in our upcoming 30+ page long research paper.
submitted by rafalsk to gridnetproject [link] [comments]

LBRY Site and Token!

LBRY
For most users, LBRY will be a place where they can find great videos, music, ebooks, and more: imagine a vast digital library that is available on all of your devices. But under the hood, LBRY is many components working together.
First and foremost, LBRY is a new protocol that allows anyone to build apps that interact with digital content on the LBRY network. Apps built using the protocol allow creators to upload their work to the LBRY network of hosts (like BitTorrent), to set a price per stream or download (like iTunes) or give it away for free (like YouTube without ads). The work you publish could be videos, audio files, documents, or any other type of file.
Traditional video (or other content) sites such as YouTube, Instagram, and Spotify store your uploads on their servers and allow viewers to download them. They also allow creators to make some money through advertising or other mechanisms. However, there are some well-known drawbacks, especially for people whose material is perceived as not being advertiser-friendly.
LBRY aims to be an alternative to these sites, allowing publishers and their fans to interact directly without the risk of demonetization or other meddling.
What makes this all possible is the blockchain technology developed by the creator of Bitcoin.
Do you have to understand any of this to use and enjoy LBRY ? No. Does it still matter to users? Yes!
Earn rewards based on followers, how many you are following, daily watch reward, invite reward and more that show up that arnt part of the dailys.
I current have been using LBRY to watch The StarLost, a cliche 1973 Canadian space film. There are many other shows, influences and Crytpo related shows on LBRY
submitted by japakar to japakar [link] [comments]

A Beginner’s Guide to Understanding the aelf WhitePaper (Part 1)

A Beginner’s Guide to Understanding the aelf WhitePaper (Part 1)

https://preview.redd.it/j27ayhbw0rh51.png?width=512&format=png&auto=webp&s=f15bd6ff4ac50fa0eb0bbad23d59f55da6d98090
In the Bingo game DApp demo, we’ve already talked about the aelf real random number generator, which can generate unpredictable random numbers between 0 and 255, making it a useful tool. The interaction logic of this DApp’s backend is very much the same as that of blockchain smart contract. But this DApp is so simple that it doesn’t really show what aelf is capable of. In fact, aelf’s got an awful lot more in its arsenal. When it comes to supporting enterprise-level applications, this is where aelf comes in. For someone who is new to aelf, the best way to aquaint yourself with aelf’s technology is to read the aelf technical whitepaper.

https://preview.redd.it/yxbt4j9x0rh51.png?width=512&format=png&auto=webp&s=35c371142e08d37c38776dc151c5877f0aa9ca93
If you have read the whitepaper of some blockchain projects, you might find them difficult to understand or even make no sense. As a result, readers (not speculators) are often at a loss as to what these projects are trying to do. Unfortunately, many projects often assume their readers are all experts and can understand the whitepapers with no difficulty. In reality, most blockchain projects are much more complex than Bitcoin. Therefore, if readers only know how Bitcoin works, they still cannot understand these projects’ whitepapers. If you want to draw potential developers to your platform, it is necessary to provide a beginner’s guide to understanding your whitepaper.
That’s why we have prepared this guide. But before reading this guide, you can quickly go through our website, read our slogan, watch the promo video on the homepage, download the whitepaper and before long, you may find something you cannot understand. Don’t worry, let’s start with aelf’s slogan:
Aelf, a Decentralized Cloud Computing Blockchain Network
Cloud computing is the most fundamental feature driving the entire aelf blockchain ecosystem. Running data intensive computation on multiple computers is obviously more cost-effective than on one mainframe computer. Suppose these computers are assembled in a huge building called data center, say thousands of computers, with professional maintenance by a company, say, Amazon, then these data centers are called a cloud, such as Amazon Web Services (AWS).
Having said that, it is still hard for a beginner to understand why cloud computing gives aelf an indispensable edge. This is because most people, including some in the blockchain sector, don’t have a sound knowledge of some of blockchain’s key concepts. As a result, it is difficult for them to move on to the more complex technology, let alone analyze the pros and cons of a blockchain project and its potentials. As far as I know, I think it is necessary to set the record straight on two important blockchain concepts.

What is a blockchain?

This is nonsense! We all know blockchain is a tamper-proof distributed ledger or database technology, as any professional would explain to you. You most probably have memorized this definition by heart and would rattle it off whenever someone asks you what blockchain is. The truth is, this definition is very misleading. Blockchain is not a new invention, nor does it have any magical features (for example: the magical tamper-proof feature). In this sense, it is different from the magical stuff in an alchemist’s furnace. Instead of viewing blockchain as a ledger or database, it is better to see it as a distributed system. So what is a distributed system?
A distributed system is a large number of interconnected computers, which makes it a peer-to-peer system. It was invented around 1960, long before the advent of Internet. There are already a lot of well-known distributed-system-based softwares, such as Bit-torrent and Netflix. In these softwares, people can upload the files on their computers to the P2P network and anyone can download them. But a distributed system can do much more. In the distributed system discipline, people have to solve a big problem, that is, everyone (every node) in the P2P network need to make an unanimous decision no matter what information they receive, and this unanimous decision is what we call a consensus, and this problem is called the Byzantine General Problem.
Say there are three Byzantine generals wanting to attack the same fortress, and they are at three different locations, they could only rely on couriers to send messages. In this situation, any general can only make a decision based on the other two generals’ messages. If one general wants to attack, he let couriers send the “attack” message to the other two generals, so do the other two generals. If the generals are all loyal, each of them should receive “attack, attack” coming from other two generals, and all three generals would attack the fortress. But if one of them is a traitor, he could send one general “attack” and send the other “retreat”, this other general will receive “attack, retreat”, if he follows majority rule, he will not make a decision because the votes on attack and retreat are the same. At the same time, the other general will attack, and the result is that these three generals will not reach a consensus on attack.
The generals are just like the nodes of a distributed system (i.e. blockchain). There are at least two points worth noting: first, all massages (transactions), have to be sent to the other generals (nodes) to keep them informed; second, all the nodes have to reach a consensus.

https://preview.redd.it/nlgharoy0rh51.png?width=512&format=png&auto=webp&s=56c022e327526f13d1f3e13efe80de0483550715
The first point means that it takes time for sending a message to all the nodes in a huge network, the second means that after a new block has been broadcast to the entire network, there should be a mechanism for all the nodes to agree on this block (a package of messages or logs), and it also takes time.
submitted by Floris-Jan to aelfofficial [link] [comments]

I want to run a bitcoin-node but live in a third world country with a connection giving maximum download speeds of 1mbps and that's on a good. Is there any point?

And this is 1 meaga bit per second not even MBs. Upload speeds probably much poorer.
Basically I got intrested in Bitcoin after a course on edX and now I'd like to run a node. But given my current internet connection, is there even a point?
submitted by Bottleneck_ram to Bitcoin [link] [comments]

06-16 12:55 - 'boss linux' (self.linux) by /u/bossdevelopers removed from /r/linux within 437-447min

'''
-BOSS PROJECT: Standing for Blockchain Operative System Series is a new Linux distribution based on ubuntu core with important changes, highly improved security and the default incorporation of blockchain services and support for cryptocurrencies.We have modified the original standards to transform it into a very useful tool for the entire bitcoin community consisting of an interesting combination of security, manageability, speed and performance. It can be used on any x64 X86 machine simply after installation.
.-BLOCKCHAIN FULLY DEDICATED: It has been more than a decade since the physical birth of cryptocurrencies, although the idea is over 50 years old. The future will undoubtedly be governed by blockchain systems and governments, banks and corporations are already taking positions in this regard. BOSS is not far behind. Now it is possible to mine even if it has not been done previously. For even more in-depth development of the blockchain applications included in BOSS operating systems, you have your own version of bitcoin PoW PoS mining: BitcoinBOSS. Our own blockchain that is enhanced with BOSS token erc20.
-BOSS SECURITY & PRIVACY FEATURES: A weak point of easy access for hacker attacks, such as automatic updates, has been modified so that the user can carry out his updates when he deems necessary and under monitoring. The elevated privileges allow you not only to modify the system, they also allow you to quickly act on files that are prohibited from accessing other operating systems. BOSS has installed active-passive security measures
-MAC ADDRESS DEFAULT SPOOFING: MAC address Spoofing privacy + from BOSS. Every time you log in to your BOSS computer, you are doing so with a different MAC address. Privacy thus reaches its highest degrees by making MAC-TRACK impossible
-LIGHTWEIGHT RECORD: BOSS has achieved maximum performance in a really small space. BOSS takes up very little space and can be downloaded via torrent or direct download through our mirrors. BOSS has concentrated a large operating system in a super small space of less than 1 GB, which puts us at the forefront among the lightest and safest distributions as leaders in relation to gb-installed applications.
-INSTALLATION PROCESS: BOSS installation is simple and guided using the ubiquity installer and depending on the performance of your system it can take between 15-30 minutes in normal circumstances. Download BOSS now and enjoy a high level of performance, security and privacy in an enviable small space. BOSS can be tested after installation, fully or partially installed on your system, together with windows or your favorite operating system.
.-POWERFUL RECOVERY TOOL: BOSS is an excellent file recovery tool. The combination of BOSS tools and its elevated privileges allow you to access areas hidden or inaccessible. Simply use BOSS live to freely rescue files from the laptop where the BOSS USB is inserted. Recover Bitcoin paraphrase or .DAT files easier and faster than other recovery programs simply by acceding to the file system where BOSS usb is inserted.
-STABLE RELEASES: BOSS V01-LTS Available now for download at sourceforge.
[**[link]2
FEATURING
-UNITY DESKTOP-BRAVE BROWSER-ATOMIC WALLET-COMMON UTILITIES-ELEVATED PRIVILEGES ENABLED.-MAC ADDRESS SPOOFING-FILE SYSTEM RECOVERY TOOL
-WE DELIVER BOSS: Using BOSS as removable OS is recommended if you do not want to install the system. For this our team recommends the use of persistent USB where your session is recorded and ready for the next login, find everything as you left it. BOSS makes available to its users the delivery of these persistent USB devices worldwide via regular mail or messaging. The flat rate of our installation on the USB and shipping to the user is USD 20 to which we must add the shipping costs in the options selected by the user. Please check with our team to process your shipment while this process is automated on our website. Order now your BOSS or a even more customized BOSS with your company requirements, logo etc. We deliver in CD, USB or SD card in your selected size from minimal 4GB, however 16GB and above are recommended.
[link]3
[link]4

[link]5
'''
boss linux
Go1dfish undelete link
unreddit undelete link
Author: bossdevelopers
1: *ourcef*r*e.**t/proj*cts/*oss-min*mi*al*ed**ion/ 2: sourceforge.net/pr*j*cts*****-mi*im**al-editio****]^*1 3: pr*vie*.*edd.it/2j0i*g*tk755*.p*g*wid*h*1*00&form*t*png&**uto*w**p*a*p;s=57745a79590667**059****948ab*84e*1*693*7 4: *revi*w.red*.it*9l8yh7ag*7551*png?wi*th=160*&a*p;fo*m**=png*amp;a*to=***p&s=acd*6e9**8d2*a**4d*b*14737cf**72**dcc2*5 5: pr**ie**re*d.it*3*qyxtw*k755*.*ng?wid**=*600*amp**ormat=p*g&am*;au*o=webp&am*;s=02b*905*4cb**f770b77*13a3*6**90fc*6*0d3b
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Top 7 unique, high-potential cryptocurrencies of 2019 that are actually innovating the space

Right now, the top 20 has 2 forks of Bitcoin, Tether, an exchange's token, Ethereum Classic, and a few other projects that make this space look far less serious than it really is. On the other hand, you have many great projects out of the top 20 with huge potential going forward. The purpose of this post is to discuss the cryptocurrencies that I believe are exciting, different, and already have (or are extremely close to having) a working project. These are the projects that actually keep my faith alive in crypto among all the other BS out there. I'm hoping to outline a few projects you know, as well as some smaller ones. I will exclude Bitcoin, Ethereum, and XRP from this list, as everyone knows them already and what they do. This is NOT MEANT TO BE AN ALL-INCLUSIVE LIST - that means I'm definitely missing some projects. However, these are some of the projects I believe will make seriously large contributions to the space going forward.
1 - Nano. Reddit already shills the hell out of this coin, and it's for good reason. Nano is the single fastest and cheapest (100% free) P2P digital currency in the space, period. There's something to be said about sending somebody 50 Nano and them receiving EXACTLY 50 Nano, not 49.999 or something similar. Nano is an actual innovation in the space, with a very different codebase than other coins. It uses a block lattice (instead of using a blockchain), which is an incredible invention, and is reminiscent of the kind of innovation that ETH first offered for blockchain applications in 2015 - but for digital cash. Nano feels like what Bitcoin should have been from Day 1. Download the mobile app/create a web wallet and send some back and forth between the two - you'll understand why people are so bullish on this coin once you've tried it out for yourself.
2 - Monero. If any coin most clearly resembles the fungibility and privacy of using physical cash, it's Monero. It's the only major coin that is fully private by default, 100% of the time. The recent updates over the past few months have made Monero extremely cheap and fast to use, and if you haven't tried it out, I'd highly recommend it (MyMonero's web wallet is excellent https://wallet.mymonero.com). There's no denying this coin's potential to shape the space in the future as the top privacy coin. Monero has also proven to be highly resistant to bear trends, holding its price better than nearly every other top 40 coin in the last bear market. Lastly, the team is extremely competent and makes real innovations to this coin - between making transactions fully private, cost reduction/speed upgrades, and forking away from ASIC mining, this team has proven that they are little talk, ALL action, and committed to constantly improving this cryptocurrency.
  1. Augur - This decentralized betting platform was one of the first Ethereum dapps ever planned, and took nearly 3 years to come to fruition. It is one of the most well-made, useful dapps running on Ethereum right now and has real users making markets every single day. You can bet on pretty much anything using Augur, and it's actually completely decentralized - meaning no third parties or governments who are unhappy with the content or types of bets being placed - can shut this dapp down. It does have a few issues for sure, but I am confident that they are minor and will be resolved in time as this market continues to mature.
  2. Lisk - Though the project has seen many delays in its time, the Alpha SDK - their biggest innovation - is just about to launch. Lisk will be the first project to really bring sidechains for dapps into the cryptocurrency space, and this is a big deal. It's not just another dapp platform - these sidechains allow for much more customization than simply running a dapp on Ethereum, Tron, or EOS. Dapps can be written in pure Javascript, a language that every software developer knows, and the dapps themselves won't be held back by many of the issues that Ethereum has (average-slow network speed/congestion issues, etc). Not to mention, their team is massive (30+), they have plenty of funding and the price is very low right now ($2, with an ATH of over $35).
  3. IOTA - No matter what you think of this coin, IOTA's tangle is undeniably different. It's DAG-like technology is refreshing to see in a space where 98% of coins are just clones/forks of other coins - even if it doesn't work the way it should yet. It's possible that the removal of blocks and instead creating a tangle of transactions where every node in the network helps to power future transactions could allow for scaling beyond what current blockchains offer.
  4. BitTorrent - I really hesitated to list this one. Do I agree with the way Justin Sun markets and overhypes every small meeting or minor project development? Of course not. However, there is no denying that this token will expose a TON of new users to cryptocurrency for the first time - arguably more than any other dapp token. BitTorrent, the application, is already being used by millions of users, and there's no denying that. This is a rare situation and no other cryptocurrency dapp has anywhere near the user count that this BitTorrent has. While I don't love Tron in general... it is largely an Ethereum clone with few advantages other than added hype...BTT is guaranteed to at least see some real-world usage and it might be good to own a few tokens.
  5. Upfiring - If you like the idea that BitTorrent is putting forth (rewarding seeders), Upfiring is that exact idea - but their dapp is literally already out and nobody knows about it yet. I hesitated to list this project due to the low market cap, but it just might be one of the most useful dapps out there and one of the best uses of smart contracts. The dapp is awesome - super sleek and easy to use. In terms of high potential projects, this one is huge with around a 2 million USD market cap and really could explode at any time imo. You can download their dapp right now and share files on the blockchain, set a price in UFR for your files and earn crypto when others download them. Torrenting is one of the areas that I believe crypto will make a big impact in, since rewarding seeders is an excellent use-case to incentivize file-sharing. With an ATH of 40 million, it has reached 20x the current market cap before, so the price and hype level is currently low.
Major projects to watch out for due to being overvalued or other significant red flags (please don't downvote this post if you disagree with these - instead, let us know why you disagree in the comments):
1 - Litecoin. I'd certainly agree it should be in the Top 50 due to its fame status, but the #4 position is ridiculously high for a coin like this. Put simply, there is simply no major use case for this coin. If you wanted to use something as cash, Nano and even Bitcoin Cash are arguably both better options. At least Bitcoin serves as the standard for markets on exchanges. Remember that the creator of this coin has literally sold all of it as well - while arguably a smart move on his part, it's something to keep in mind.
2 - Binance Coin. Regardless of the fact that it is Binance, and Binance is great, this coin's entire value is based on a 100% CENTRALIZED business. That's a big deal. This means if something ever happens to Binance, for whatever reason, BNB's value will directly be affected as a result. In addition, a 4.5 BILLION dollar market cap for an exchange token is just a ridiculous market cap in general, even if it is Binance. Props to Binance for making this token so successful, though.
3 - Stellar. This is a big one, and I know I'm going to take some heat for listing this, so let me clarify. I really like what Stellar is doing with payments, for sure, but one thing that makes that all null and void from an investment standpoint - Stellar's team owns over 80% of the entire Stellar coin supply. Let that sink in for a second. 19,331,690,041 XLM is circulating among every single Stellar holder, while the team themselves holds 85,710,809,041 XLM. People tend to ignore this fact for some reason, but it's unfortunately a huge deal and requires that you put a ton of trust in Stellar's team not to casually sell millions of dollars worth of their XLM whenever they want more money. How would you feel if Vitalik owned 400,000,000 ETH? That's the same ratio to what the Stellar team owns. There's also been a ton of sketchy things that have happened with the team selling off millions of dollars worth of coins in 2017/early 2018 - you can search those in the search bar to read up on those incidents where users here tracked those transactions. Lastly, Stellar is a fork of Ripple. Not that this is a bad thing necessarily, but it's something to keep note of.
4 - Bitcoin SV. Yeah, it's pumping right now. Who cares, so are lots of coins. Ignore it, and maybe it will go away. This coin once again serves no real purpose and has no place being the #8 cryptocurrency with how many great projects are sitting below it.
5 - Ethereum Classic. This coin has already been 51% attacked SUCCESSFULLY, and it's value has gone up since then. In addition, no changes have been made to the coin to prevent such an attack in the future, and none are planned. No hard forks will happen to improve this coin, ever...that's because Ethereum Classic's main value proposition is immutable and irreversible transactions, Ironic - because the 51% attack showed that transactions on this chain are actually the exact opposite of this. Obviously, this coin should be avoided.
And before you ask, why did I leave out... -Cardano: Interesting project but too far away from releasing their smart contracts to mention in this post. In addition, market cap is extremely high for not having a working product out yet
-Tron: A hyped-version of Ethereum with few differences. Not necessarily bad, but not innovative enough to mention from a technological standpoint. I won't comment on their marketing tactics...
-Vechain: It remains to be seen whether this use-case will ever play out using a public blockchain like this with real businesses. Certainly one to keep an eye on, but as of right now it's not being used on any sort of large scale
-Qtum: Still has yet to find a real niche over projects like Ethereum, Tron, and EOS
-EOS: Raised billions of dollars in their ICO but their platform still has many issues. There are some decent developments like Everipedia on it, but overall I decided to leave it out due to once again, not offering anything THAT innovative to the space, and the lack of decentralization (EOS team can freeze transactions)
I'll update the top list as well if anyone provides me with good projects that I may have missed out on here!
submitted by devila2208 to CryptoCurrency [link] [comments]

Multicurrency Wallet DEXs will be the standard of the 2020s. The present status quo is an absolute joke.

Before I begin, I'd like to ask you a question. Why are so many of the most established people in crypto among the most closed-minded when it comes to talking about new ideas? Why is the crypto space more concerned with what a clown from Australia is lying about or petty figurehead drama than the hard work and effort of the good and lesser-known among them?
Let's talk about altcoins for a minute. It'd be a very tough job to count every single alt that's come in on a hypetrain and died in obscurity. If I were to guess that 95% of them failed, I wouldn't be surprised to hear that it was a conservative estimate and that the number is even higher. Indeed, it would be much easier to count the exceptions to the rule. To name a few - ETH, LTC, XMR, and (quite amusingly) DOGE.
Should the stubbornly high failure rate of alts justify writing them all off as garbage? Businesses have an incredibly high failure rate too. It would be foolish - outright silly, even - to say that the grocery store is a fraud and a scam because the aqua-saxophone jazzercise laundromat failed to live up to it's expectations. Maybe not, because this is exactly the way the crypto space is right now.
That line of thinking is the de facto standard in the cryptocurrency space right now - "guilty (of being a shitcoin) until proven innocent (by some central authority figure or big exchange who can validate it for us so we don't have to do it ourselves)". To be fair, there was an aggressive torrent of these "goofy laundromats" in 2017 and people are either hungover or shell-shocked from all the broken pipedreams and costly fiction. You'd think that the titans of this industry, particularly those who care more about the cypherpunk essence of Bitcoin than how rich they can get off of it, would be more receptive to the legitimate projects that are working in obscurity to harden the crypto space and it's infrastructure. Unfortunately, that does not seem to be the case. All too many seem to think that everything that needed to be built has already been built.
Considering that all the Bitcoin titans are somewhat newly-minted, the irony is remarkable. No one used to take Bitcoin seriously. The further back in time you go, the more it took lonely effort and independent research to truly grasp its ideas. This is still the case today. Most have heard of it but have no idea what it is or why it's important. Many who are fervently in PMs or traditional investments like stocks and bonds continue to deride it, even though it will go down as the best performing asset of the 2010s by far. Others are a little more aggressive and, despite a lack of knowledge, call it anything from a scam to "rat poison squared". Like anything else, it's foolish to make bold claims atop little to no education.
You'd think that treatment would make Bitcoin maximalists do some reflecting. Instead, a sizable number of them decided to emulate the ones who beat up on Bitcoin when it was small and irrelevant. "All you need is Bitcoin. Everything else is trash. I know what I'm talking about because I bought the top of the 2013 bubble and I'm probably immune to future dumps for life".
Now let's talk about where cryptocurrency infrastructure falls short. Bitcoin still retains the same cypherpunk essence that it's always had. The same can be said for Bitcoin wallets. They're secure. They allow for anonymous transactions. They run on an immutable blockchain. There is no central authority between a key-holder and their funds. Enter the exchanges. In a way, they were a necessary evil. Without them, adoption would be severely throttled. With them, Bitcoin is compromised.
For many, the privacy and anonymity that BTC is supposed to offers has been tossed out. It was the only way it could be retrofitted into a tightly-controlled system that demands KYC. While this has helped to spread adoption, Bitcoin has become more and more traceable. Quite ironically, many of these same exchanges that adopted KYC policies to "ensure accountability from their customers" had no trouble exit scamming.
They come and go. The old one gets hacked, or it exit scams, or proves itself to be corrupt and suspicious. A new one comes. This time it will be different. Then the cycle repeats itself. Mt. Gox. Bitfinex. Polo. Bittrex. Binance. They all had their time in the Sun.
These exchanges are in many ways the antithesis of the cypherpunk manifesto - vulnerable honeypots directly controlled by a centralized figurehead. Unsurprisingly, they cause a lot of unneeded trouble and give Bitcoin a ton of bad publicity. Example:
Me: "What do you think of Bitcoin?"
Co-worker: "Didn't that thing get hacked last week?"
Me: "Bitcoin didn't, but a place where it was exchanged was."
Co-worker: "I don't trust it. It's only a matter of time til they find out how to type in some numbers to make more show up on a screen blah blah blah."
You've all likely met someone like this and brushed them off as closed-mined, but they're exactly the type of person this industry needs to convince to further adoption. It will be next to impossible to do so with the way things are right now.
In order for Bitcoin to survive, it needs exchanges that are built to the same code that it was. The solution, therefore, is to "port" the cypherpunk essence of Bitcoin to the exchanges. Immutability. Anonymity. Privacy. No central authority of figurehead.
With all that said, let's talk about DEXs. I started a thread on here a few months back when Binance announced that they were giving Americans the boot. I got a ton of answers. It shows that, among the hardcore at least, there is a desire to go in a new direction. Loopring, IDEX, and Bisq were among the more popular choices.
It's a step in the right direction. However, these DEXs are still rather inaccessible - especially to outsiders. Performance wise, they're on the slower side of things. Due to these setbacks, they suffer from low volume. This is where some recent developments in multicurrency wallets with embedded DEXs from lesser-known projects will come out of obscurity and catch everyone by surprise.
Among them - I'd like to mention Stakenet Wallet and KMD's Atomic DEX. Both of them, now seemingly weeks away from launch, will allow for atomic swaps between a wide variety of coins directly from a private wallet. Stakenet goes a step further by offering atomic swaps running atop Lightning Network.
Why does this matter? These two platforms will be to exchanges what the inception of Bitcoin was to currency. Finally, after almost 9 years, Bitcoin not only has an exchange that truly honors its essence, but it's starting to see healthy competition between them.
To elaborate further on why this is very important.. No KYC. No accounts. No sending Bitcoin to an exchange and waiting around for it to show up. No downloading multiple wallets. No exchange figureheads. No withdrawal freezes. In Stakenet's case, the decentralized MN network that runs it's DEX will also act as a massive LN payment processor (routing, watchtowers) that provides a ton of liquidity for it while allowing Bitcoin to scale. "Lightning swaps" will provide every LN-based coin the ability to be instantly swapped to purchase anything in BTC. Stakenet will also feature a DEX aggregator that will pool together the orderbooks of numerous DEXs into one easily-accessible spot, boosting traffic to the many DEXs that are harder to reach and furthering their adoption along. Simply download a wallet like you would any other app and you're ready to get started. It's so much easier and more convenient. I don't see how or why CEXs and all their ilk (figurehead drama, geoblocking, exchange hacks, wash trading, currency manipulation, exit scams, etc) could remain relevant in the environment to come.
Regulation will not save us. Decentralization will. As long as one person learned something from this, it was all worth it. I welcome the opinions of everyone in this space.
submitted by ketchuma to CryptoCurrency [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

I'm amazed we only have ~515 Bitcoin XT nodes running. Guys, let's do more. This is not really difficult or expensive...

Hello fellow Bitcoin XTers,
Amidst all this recent reprehensible behavior by Cobra-Bitcoin, Bitcoin moderation by Theymos, and Bitcoin Core Devs, I decided to do something to try to help out our cause: I'm now running a Bitcoin XT node.
It was incredibly easy to setup, and it's running on one of my underutilized servers.
If you want to express your support for Bitcoin XT and moving Bitcoin forward (past all of the negatives of the status quo), I highly recommend you take this very simple and positive action: Setup a Bitcoin XT node today!
I am truly amazed that (as of right now) there are only 515 Bitcoin XT nodes running. (How is that possible?)
Come on, guys, let's do more. This is not really difficult or expensive... (Honestly, servers are relatively cheap nowadays. No need to try to run this on laptops or Raspberry Pi's, imo.)
submitted by transponder717 to bitcoinxt [link] [comments]

WooHoo!

WooHoo! submitted by jonstern to Bitcoin [link] [comments]

To everyone rushing back into BTC from altcoins: What matters is that you learn why Bitcoin needs to be conservative in its development.

Over the past year, the prevailing thought among many in the cryptocurrency communities is that bitcoin is not keeping up with other coins. That somehow bitcoin was being intentionally crippled, or that the developers did not know what they were doing. As we are seeing with the bitcoin dominance going up, that prevailing thought was wrong. The coins who were supposedly going to kill bitcoin have been all but abandoned in many cases. Many others are in the process of dying a slow death (which may take years to fully play out).
To everyone who went heavy on these coins and sold all of their bitcoin, but are now coming back: Welcome back. We are glad to have you. But before you pretend like everything is great with bitcoin again, it's important to realize why you were wrong.
But first let's go back a few years. In 2015, I was a staunch big blocker. I want to share a post made during this time that I initially downvoted. (The reason I know this is because after a certain number of months/years, reddit does not let you change whether you upvoted/downvoted something). I downvoted it because it went against my biases which had already been built up around the scaling decision, and later I came back to this post after being referred to it again. The 2015 version of me had only been in Bitcoin for 2 years, and was disillusioned with what I thought bitcoin was. And not what it actually was, or what its limitations were. The 2018 me now realizes why I was wrong, but back then I spent far too much time thinking I had it all figured out. The post that I downvoted, is as relevant today as it ever was:
A trip to the moon requires a rocket with multiple stages or otherwise the rocket equation will eat your lunch... packing everyone in clown-car style into a trebuchet and hoping for success is right out.
A lot of people on Reddit think of Bitcoin primarily as a competitor to card payment networks. I think this is more than a little odd-- Bitcoin is a digital currency. Visa and the US dollar are not usually considered competitors, Mastercard and gold coins are not usually considered competitors. Bitcoin isn't a front end for something that provides credit, etc.
Never the less, some are mostly interested in Bitcoin for payments (not a new phenomenon)-- and are not so concerned about what are, in my view, Bitcoin's primary distinguishing values-- monetary sovereignty, censorship resistance, trust cost minimization, international accessibility/borderless operation, etc. (Or other areas we need to improve, like personal and commercial privacy) Instead some are very concerned about Bitcoin's competitive properties compared to legacy payment networks. ... And although consumer payments are only one small part of whole global space of money, ... money gains value from network effects, and so I would want all the "payments only" fans to love Bitcoin too, even if I didn't care about payments.
But what does it mean to be seriously competitive in that space? The existing payments solutions have huge deployed infrastructure and merchant adoption-- lets ignore that. What about capacity? Combined the major card networks are now doing something on the other of 5000 transactions per second on a year round average; and likely something on the order of 120,000 transactions per second on peak days.
The decentralized Bitcoin blockchain is globally shared broadcast medium-- probably the most insanely inefficient mode of communication ever devised by man. Yet, considering that, it has some impressive capacity. But relative to highly efficient non-decentralized networks, not so much. The issue is that in the basic Bitcoin system every node takes on the whole load of the system, that is how it achieves its monetary sovereignty, censorship resistance, trust cost minimization, etc. Adding nodes increases costs, but not capacity. Even the most reckless hopeful blocksize growth numbers don't come anywhere close to matching those TPS figures. And even if they did, card processing rates are rapidly increasing, especially as the developing world is brought into them-- a few more years of growth would have their traffic levels vastly beyond the Bitcoin figures again.
No amount of spin, inaccurately comparing a global broadcast consensus system to loading a webpage changes any of this.
So-- Does that mean that Bitcoin can't be a big winner as a payments technology? No. But to reach the kind of capacity required to serve the payments needs of the world we must work more intelligently.
From its very beginning Bitcoin was design to incorporate layers in secure ways through its smart contracting capability (What, do you think that was just put there so people could wax-philosophic about meaningless "DAOs"?). In effect we will use the Bitcoin system as a highly accessible and perfectly trustworthy robotic judge and conduct most of our business outside of the court room-- but transact in such a way that if something goes wrong we have all the evidence and established agreements so we can be confident that the robotic court will make it right. (Geek sidebar: If this seems impossible, go read this old post on transaction cut-through)
This is possible precisely because of the core properties of Bitcoin. A censorable or reversible base system is not very suitable to build powerful upper layer transaction processing on top of... and if the underlying asset isn't sound, there is little point in transacting with it at all.
The science around Bitcoin is new and we don't know exactly where the breaking points are-- I hope we never discover them for sure-- we do know that at the current load levels the decentralization of the system has not improved as the users base has grown (and appear to have reduced substantially: even businesses are largely relying on third party processing for all their transactions; something we didn't expect early on).
There are many ways of layering Bitcoin, with varying levels of security, ease of implementation, capacity, etc. Ranging from the strongest-- bidirectional payment channels (often discussed as the 'lightning' system), which provide nearly equal security and anti-censorship while also adding instantaneous payments and improved privacy-- to the simplest, using centralized payment processors, which I believe are (in spite of my reflexive distaste for all things centralized) a perfectly reasonable thing to do for low value transactions, and can be highly cost efficient. Many of these approaches are competing with each other, and from that we gain a vibrant ecosystem with the strongest features.
Growing by layers is the gold standard for technological innovation. It's how we build our understanding of mathematics and the physical sciences, it's how we build our communications protocols and networks... Not to mention payment networks. Thus far a multi-staged approach has been an integral part of the design of rockets which have, from time to time, brought mankind to the moon.
Bitcoin does many unprecedented things, but this doesn't release it from physical reality or from the existence of engineering trade-offs. It is not acceptable, in the mad dash to fulfill a particular application set, to turn our backs on the fundamentals that make the Bitcoin currency valuable to begin with-- especially not when established forms in engineering already tell us the path to have our cake and eat it too-- harmoniously satisfying all the demands.
Before and beyond the layers, there are other things being done to improve capacity-- e.g. Bitcoin Core's capacity plan from December (see also: the FAQ) proposes some new improvements and inventions to nearly double the system's capacity while offsetting many of the costs and risks, in a fully backwards compatible way. ... but, at least for those who are focused on payments, no amount of simple changes really makes a difference; not in the way layered engineering does.
by nullc (Mr. Gregory Maxwell) submitted to the bitcoin subreddit
If you're made it this far and want to read more, or perhaps from a different perspective, here is another article which influenced me more recently by Melik Manukyan
Lightning Network enables Unicast Transactions in Bitcoin. Lightning is Bitcoin’s TCP/IP stack.
It has recently come to my attention that there is a great deal of confusion revolving around the Lightning Network within the Bitcoin and Bitcoin Cash communities, and to an extent, the greater cryptocurrency ecosystem. I’d like to share with you my thoughts on Bitcoin, Blockchain, and Lightning from a strictly networking background.
To better understand how blockchain and the lightning network work, we should take a step back from the rage-infused battlegrounds of Twitter and Reddit (no good comes from this 😛) and review the very network protocols and systems that power our Internet. I believe that there is a great wealth of knowledge to be gained in understanding how computer networks and the Internet work that can be applied to Bitcoin’s own scaling constraints. The three protocols I will be primarily focusing on in this article are Ethernet, IP, and TCP. By understanding how these protocols work, I feel that we will all be better equipped to answer the great ‘scaling’ question for Bitcoin and all blockchains alike. With that said, let’s get started.
In computer networking, the two most common forms of data transmission today are broadcast and unicast. There are many other forms such as anycast and multicast, but we won’t touch up on them in this article. Let’s first start by defining and understanding these data transmission forms.
Broadcast — a data transmission type where information is sent from one point on a network to all other points; one-to-all.
Diagram: Broadcast Data Transmission https://cdn-images-1.medium.com/max/800/1*xbgXKepaeHZRqmHWsCb_qw.png
Unicast — a data transmission type where information is sent from one point on a network to another point; one-to-one.
Diagram: Unicast Data Transmission https://cdn-images-1.medium.com/max/800/1*i18TOm6hT_h7UQ8cnt8U_Q.png
Based on our understanding of these types of data transmission forms, we very quickly discover that blockchain transactions resemble Broadcast-like forms of communication. When a transaction is made on the Bitcoin network, the transaction is communicated or broadcasted to all connected nodes on the network. In other words, for a transaction to exist or happen in Bitcoin, all nodes must receive and record this transaction. Transactions on blockchains work very similarly to how legacy, ethernet hubs handled data transmissions.
A long time ago, we relied on ethernet hubs to transfer data between computers. Evidently, we discovered that they simply did not scale due to their limited nature. Old ethernet hubs strictly supported broadcast transmissions, data that would come in through one interface or port would need to be broadcasted and replicated out through all other interfaces or ports on the network. To help you visualize this, if you wanted to send me a 1MB image file over a network with 100 participants, that 1MB image file would, in turn, need to be replicated 99 times and broadcasted out to all other users on the network.
In Bitcoin, we see very similar behavior, data (a transaction or block) that comes from one node is broadcasted and replicated to all other nodes on the network. Blockchains similarly to old, legacy ethernet hubs are simply poor mediums to perform data transmission and communicate over. It is simply unrealistic to me as a network engineer to even consider scaling a global payment network such as Bitcoin via Broadcast-based on-chain transactions. Even to this very day, us network engineers take great care and caution in spanning our Ethernet and LAN networks, let alone on a global level.
To put it into perspective, if we were to redesign the Internet by strictly relying on broadcast data transmissions as exhibited in blockchains and ethernet hubs — we would have effectively put every single person, host, and device in the entire world on the same LAN segment or broadcast domain. The Internet would have been a giant, flat LAN network where all communication would need to be replicated and broadcasted to every single device. In you opening up to read this article, every other device on the Internet would have been forced to download this article. In other words, the internet would come to a screeching halt.
In computer networks, the most frequent form of communication relies on unicast data transmissions, or point-to-point. Most of the communication on the internet is routed from one computer to another, we no longer need to rely on blind broadcast transmissions of data with the hopes that our recipient will receive it or see it. We are able to accurately send, route and deliver our messages to our receiving party(ies). We learned that the transfer of a 1MB image file in a broadcast network would require the file to be replicated and broadcasted to every participant on that network. Instead, in a network that supports unicast data transmissions, we are able to appropriately route that image file from source to destination in a clearcut manner.
To me, the Lightning Network is the IP layer of Bitcoin. (I understand that these data transmission forms exist in both Ethernet and IP.) But, I do feel that these analogies help us to better understand these complex and largely abstract ideas: blockchain, lightning, channels, etc.
Let’s take a moment and ignore all explanations and overly simplistic definitions of Lightning that are perpetuated from both sides of the debate for a moment. Instead, lets objectively take a close look at Lightning and determine what we know. What do we know about lightning? It allows us to lock our Bitcoin and form channels with others. What else do we know? We can bidirectionally send and receive transactions between the two points that constitute the channel. What else do we know? We can further route transactions to their correct destination.
Based on these key understanding points, we are able to see that lightning enables unicast transactions in a system [Bitcoin] that previously only supported broadcast transactions. To me, Lightning nodes in Bitcoin are the equivalent of IP hosts — where we can finally conduct or route one-to-one or point-to-point transactions to their appropriate recipients. In traditional IP, we send and receive data packets; in Lightning, we send and receive Bitcoin. IP is what allowed us to scale our small and largely primitive networks of the past into the global giant that it is today, the Internet. In a similar manner, Lightning is what will allow us to scale our global Bitcoin network.
Where Lightning Nodes can be seen as IP hosts, I view Lightning Channels as established TCP connections. On the Internet today, when we try to connect to a website for example, we open a TCP connection to a web server through which we can then download the website’s HTML source code from. Alternatively, when we download a torrent file, we are opening TCP connections to other computers on the Internet which we then use to facilitate the transfer of the torrent data.
And in Lightning, we establish channels with our respective parties and are able to directly [point-to-point] send and receive data (transactions) similarly to TCP. Where Blockchain is similar to Ethernet, Lightning Nodes are our IPs and Lightning Channels our TCP connections.
To conclude, I see many similarities to our pre-existing network technologies and protocols that power our computer network(s) and I feel that we are redesigning the Internet. From a technical point of view, I don’t believe that scaling Bitcoin on-chain will ever work and fear broadcast storm-like events in the future. I welcome our new unicast transaction methods enabled by the Lightning Network. Even more so, I am excited for the ‘web’ moment in Bitcoin.
While everyone has their eyes fixed on blockchain technology, I look towards Lightning. Lightning is the TCP/IP stack of Bitcoin. Lightning is where we will transact on. Lightning is where everything will be built on. Lightning is what will power and enable our applications and additional protocols and layers. With this said, what is to become of the main Bitcoin blockchain? It will and should remain a decentralized, tamper-proof, immutable base or foundation layer which will provide us with cryptographic evidence of what is a Bitcoin.
Some individuals and groups within our communities and ranks spread fear and warn us of false narratives of “lightning hubs”, but fail to grasp that their scaling approach of on-chain transactions only pushes us in the direction of an actual (ethernet) hub design. If Bitcoin loses decentralization on its base layer, then we will lose Bitcoin. The past 9 years of work will have only resulted in a large, centralized broadcast hub with only a few remaining with the ability to operate such a monstrosity.
I wrote this article with hopes that it will help clear up the ongoing confusion about Bitcoin, Blockchain, and Lightning. It is designed to help better explain Blockchain and Lightning through analogies to concepts that we may be more familiar with. I also wrote this very quickly and it may contain typos. If you notice any typos, please bring it to my attention.
submitted by hybridsole to Bitcoin [link] [comments]

Jonas's talk on BIP151 was great. Want to ask if the $29 computer is the cheapest way to host a full node? Any cheaper alternatives?

Jonas Schnelli mentioned a $29 computer and didnt say anything about the HDD cost. Would like to learn from you the cheapest way, including the HDD cost, to host a full node ? I am in China so thinking there may be more ways here. His talk starts around 1:04:05 at this link: https://www.youtube.com/watch?v=_Z0ID-0DOnc
submitted by nishant_sharma to Bitcoin [link] [comments]

OpenBazaar meetup opens in London

OpenBazaar meetup opens in London submitted by bobthesponge1 to Bitcoin [link] [comments]

Could bitcoin be theoretically used to tip torrent seeders?

Would that idea be feasible from a programming perspective? Seeders would have to specify their address, downloaders would specify their bitcoin per gigabyte.
submitted by WizardHatchet to Bitcoin [link] [comments]

[ANN] Bitcoin blockchain data torrent - Updated to height 317,000. Please seed!

[ANN] Bitcoin blockchain data torrent - Updated to height 317,000. Please seed! submitted by jgarzik to Bitcoin [link] [comments]

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